Funding arb · Price arb /

PEPE

all PEPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0066%/8h= +7.2% APRpaid last 24h +0.029%

Price spread now: Coinbase International against Orderly+0.070%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Orderly Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Coinbase International is 0.070% dearer against Orderly than usual: you sell high and buy low: +$7 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_1000PEPE_USDC	0.000004886	0.0302	pay 0.0302% / 8h	7h 39m	$30K	$13K	20x
Short	Coinbase International 1000PEPE-PERP-INTX	0.000004889	0.0368	get 0.0046% / 1h	39m 01s	$544K	$26.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Orderly. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee OrderlybpFee Coinbase InternationalbpOrdersPrice spread, now +0.070%Rate

Funding earned: $13.88
Price spread: +0.070% → 0.000%: $6.96
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $4.84
Costs to cover: 0.160%
Break-even: 4.6 days

Slippage unknown: Orderly: no order-book sample; Coinbase International: live order book, 5 min ago. Net counts fees only.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Orderly no order-book sample	—	—	—	—	—
Sell Coinbase International live order book, 5 min ago	2.05 bp	14.0 bp −$14	18.6 bp −$186	doesn't fit	doesn't fit

Orderly: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

PEPE on 35 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Kraken Futures PF_PEPEUSD	−0.0120%	1h	0.000004889	+0.072%	$3.9M	$13.9M	50x	as long as short
dYdX PEPE-USD	0.0000%	1h	0.000004903	+0.361%	$18K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0006% / S −0.0006%	1h	0.000004887	+0.031%	$15K	—	150x	as long as short
Hyperliquid kPEPE	+0.0100%	1h	0.000004896	+0.213%	$59.2M	$112.3M	10x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000004907	+0.438%	$58K	$119K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000004893	+0.145%	$89.9M	$300.7M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000004888	+0.049%	$155.7M	$65.4M	75x	as long as short
KuCoin PEPEUSDTM	+0.0100%	8h	0.000004889	+0.063%	$24.8M	$55.9M	75x	as long as short
Bitget PEPEUSDT	+0.0100%	8h	0.000004893	+0.162%	$42.9M	$152.2M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000004891	+0.105%	$572K	$4.3M	—	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000004898	+0.247%	$26K	$351K	20x	as long as short
SunX 1000PEPE-USDT	+0.0100%	8h	0.000004897	+0.235%	$2K	$2.4M	20x	as long as short
SoDEX 1000PEPE-USD	+0.0100%	1h	0.000004889	+0.070%	$2K	$12K	10x	as long as short
HTX PEPE-USDT	+0.0100%	8h	0.000004905	+0.391%	$557K	$3.5M	75x	as long as short
Phemex u1000PEPEUSDT	+0.0100%	8h	0.000004882	−0.072%	$2.3M	$6.6M	50x	as long as short
OKX PEPE-USDT-SWAP	+0.0188%	8h	0.000004898	+0.254%	$43.1M	$519.5M	50x	as long as short
Reya kPEPERUSDPERP	+0.0189%	1h	0.000004898	+0.245%	$7K	—	15x	as long as short
Paradex kPEPE-USD-PERP	+0.0190%	8h	0.000004904	+0.376%	$5K	$16	20x	as long as short
Lighter 1000PEPE	+0.0192%	1h	0.000004892	+0.131%	$572K	$6.7M	10x	as long as short
Orderly PERP_1000PEPE_USDClong	+0.0302%	8h	0.000004886	long leg	$30K	$13K	20x
BloFin PEPE-USDT	+0.0309%	8h	0.000004889	+0.070%	$4.0M	$23.1M	75x	as long as short
Coinbase International 1000PEPE-PERP-INTXshort	+0.0368%	1h	0.000004889	+0.070%	$544K	$26.5M	50x
Nado kPEPE-PERP	+0.0408%	1h	0.000004900	+0.291%	$187K	$848K	10x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0437%	1h	0.000004900	+0.295%	$101K	$754K	25x	as long as short
01 Exchange kPEPEUSD	+0.0440%	1h	0.000004897	+0.233%	$1K	$2K	10x	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.0455% / S −0.0677%	1h	0.000004000	−18.127%	$46K	—	100x	as long as short
BingX 1000PEPE-USDT	+0.0496%	8h	0.000004893	+0.156%	—	$256.5M	—	as long as short
Extended 1000PEPE-USD	+0.0512%	1h	0.000004887	+0.020%	$538K	$148K	25x	as long as short
Binance 1000PEPEUSDT	+0.0514%	8h	0.000004895	+0.185%	$137.1M	$1.09B	75x	as long as short
MEXC PEPE_USDT	+0.0517%	8h	0.000004892	+0.139%	$97.4M	$282.0M	300x	as long as short
Aevo 1000PEPE-PERP	+0.0520%	1h	0.000004890	+0.090%	$138K	—	3x	as long as short
Aster 1000PEPEUSDT	+0.0531%	8h	0.000004894	+0.164%	$1.4M	$7.5M	50x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0569%	1h	0.000004890	+0.090%	$73K	$103K	25x	as long as short
Backpack kPEPE_USDC_PERP	+0.0572%	1h	0.000004894	+0.166%	$93K	$600K	15x	as long as short
Injective PEPE/USDC PERP	+0.0636%	1h	0.000004908	+0.458%	$4K	$102K	12x	as long as short